CFTC Acting Chairman Caroline Pham Announces Sweeping Leadership Changes

Commodity Futures Trading Commission (CFTC) Acting Chairman Caroline D. Pham announced a series of key interim leadership appointments across the regulatory agency's executive, enforcement, and oversight divisions. The leadership transition marks the beginning of the new administration. In her announcement, Acting Chairman Pham recognized the service of former Chairman Rostin Behnam alongside outgoing executive directors who have led the agency's divisions over recent years, confirming that experienced agency staff will assume these positions on an interim basis. Among the key appointments, Harry Jung will serve as Acting Chief of Staff. In addition to acting as Pham's top advisor, Jung will spearhead the CFTC's regulatory engagement on cryptocurrency, decentralized finance (DeFi), and other digital assets. Jung previously served as Counselor and Senior Policy Advisor to Pham and held prior regulatory and compliance roles at Citigroup, Morgan Stanley, and FINRA. Meghan Tente has been named Acting General Counsel. Tente has held numerous senior posts at the Commission since joining in 2012, including Chief of Staff to Pham and Acting Director of the Division of Market Oversight (DMO), where she managed the registration and oversight of U.S. derivatives exchanges. Brian Young will lead the Division of Enforcement as Acting Director. Young joined the CFTC in 2024 as Director of the Whistleblower Office after nearly two decades at the Department of Justice, where he served as Acting Director of Litigation for the Antitrust Division and Chief of the Fraud Section's Litigation Unit. During his DOJ career, Young prosecuted complex financial crimes, including benchmark manipulation and foreign exchange front-running schemes. Additional division leadership appointments include: - Amanda Olear, who previously led the Market Participants Division, has been appointed Acting Director of the Division of Market Oversight. - Richard Haynes, formerly Deputy Director of the Risk Surveillance Branch, will serve as Acting Director of the Division of Clearing and Risk. - Tom Smith, a veteran CFTC deputy director with extensive background in intermediary capital, margin, and fund segregation requirements, has been named Acting Director of the Market Participants Division. - Taylor Foy has been appointed Acting Director of the Office of Public Affairs. - Nicholas Elliot assumes the role of Acting Director of the Office of Legislative and Intergovernmental Affairs. - Mauricio Melara has been named Acting Director of the Office of International Affairs. The newly appointed interim leaders bring decades of combined regulatory, legal, and market surveillance experience to the agency as it continues to supervise U.S. derivatives markets and address evolving asset classes.